Inflation still low as wholesale prices fall for 3rd straight month

WASHINGTON -- Wholesale prices dropped in November for the third straight month, indicating that inflation remains in check as Federal Reserve officials consider reducing a key stimulus program.

The Labor Department said Friday that its producer price index fell 0.1% from the previous month. The decline, which was in line with analyst expectations, was driven by a 0.4% drop in the price index for energy.

November's drop in wholesale prices followed a 0.2% decline in October and 0.1% in September.